Quantinuum (NASDAQ:QNT) Trading Down 7.7% – Time to Sell?

Quantinuum Inc. (NASDAQ:QNT) shares traded down 7.7% during mid-day trading on Wednesday . The stock traded as low as $53.70 and last traded at $54.05. Approximately 959,186 shares changed hands during trading, a decline of 71% from the average daily volume of 3,258,566 shares. The stock had previously closed at $58.58.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen started coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating for the company. Rosenblatt Securities assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $155.00 price target for the company. Morgan Stanley initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Zacks Research raised shares of Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. Finally, Craig Hallum began coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Quantinuum has an average rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Trading Down 6.1%

Insiders Place Their Bets

In related news, Director Hal Barron purchased 250,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $60.00 per share, for a total transaction of $15,000,000.00. Following the completion of the transaction, the director directly owned 255,833 shares of the company’s stock, valued at $15,349,980. This represents a 4,285.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Jimenez acquired 66,665 shares of the stock in a transaction on Friday, June 5th. The stock was bought at an average price of $60.00 per share, with a total value of $3,999,900.00. Following the completion of the acquisition, the director directly owned 72,498 shares of the company’s stock, valued at $4,349,880. This trade represents a 1,142.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 411,032 shares of company stock worth $24,661,920.

Quantinuum Company Profile

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.